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Apple supplier Foxconn to set up factory in Telangana, 25,000 jobs to be created

Foxconn, the supplier of the worldwide popular iPhone maker American company Apple, will set up a factory in Telangana with an investment of about $500 million. About 25,000 jobs will be created in the first phase of this project. Foxconn, the world’s largest contract electronics maker, assembles about 70 percent of all iPhone models.

Reuters reported in March that foxconn Has got the contract to make AirPods for Apple for the first time. AirPods are made in China. Apple plans to shift some of its production from China. The production of Apple’s new iPhone models and other devices was affected due to the restrictions imposed by Corona in China. Apart from this, due to the tension between America and China, the company also wants to increase its production outside China. Foxconn had received approval from the Karnataka government for an investment of $968 million in late March.

in the last quarter Apple The result has been better than expected. The company has been supported by growth in iPhone sales and strong performance in India as well as some other markets. In the company’s last quarter, sales declined by about 2.5 percent to $94.8 billion. This is better than analysts’ estimates. Analysts had forecast a 4.4 per cent decline in the company’s sales. Apple’s profit was $ 1.52 per share. Analysts had given an estimate of $1.43 for it. iPhone sales rose 1.5 percent to $51.3 billion. Analysts had estimated that iPhone sales could decline by 3.3 percent due to lower purchases due to higher inflation.

Mobile phone exports from the country have increased to $11.12 billion (about Rs 90,000 crore) in the last financial year. Apple’s stake in this is about half. Assembling of iPhones in India is done by Apple’s three contract manufacturers – Foxconn, Wistron and Pegatron. The company also plans to start assembling iPad and AirPod in the country. India is an important market for Apple. The company’s sales in the country have grown rapidly in the last few years.

(This news has not been edited by NDTV team. It is published directly from syndicate feed.)


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